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Builders Beef Up ‘Safety Investment’ Ahead of Enforcement of Severe Disaster Law

Builders Beef Up ‘Safety Investment’ Ahead of Enforcement of Severe Disaster Law

SEOUL, June 1 (Korea Bizwire) — Ahead of the enforcement of the so-called severe disaster law, which is slated to take effect next January, South Korea’s major construction companies are beefing up investment in safety. Under the new legislation, business owners or CEOs are subject to at least one year in prison or up to [...]

Builders Make Direct Forays into Waste Processing Business

Builders Make Direct Forays into Waste Processing Business

SEOUL, May 12 (Korea Bizwire) — South Korea’s construction companies are moving into the waste processing business by acquiring a string of waste processing companies. As the waste processing market grows at a blistering pace with the amount of waste increasing sharply since the outbreak of the COVID-19, they are attempting to develop the waste [...]

New Legislation Guarantees Wages for Workers Even if Construction Companies Go Bankrupt

New Legislation Guarantees Wages for Workers Even if Construction Companies Go Bankrupt

SEJONG, May 18 (Korea Bizwire) — Starting next year, workers’ wages are expected to be secured safely even if construction companies participating in public works fail and bank accounts are seized. Government ministries, including the Ministry of Land, Infrastructure and Transport and the Public Procurement Service, announced measures on Friday to improve the direct wage [...]

Builders Turn to High-tech Solutions as Coronavirus Fears Weigh on Housing Market

Builders Turn to High-tech Solutions as Coronavirus Fears Weigh on Housing Market

SEOUL, Feb. 7 (Korea Bizwire) — The Wuhan coronavirus is prompting changes to the way South Korean construction companies are selling new apartment units. Jungheung Construction Co., which plans to open sales for an apartment complex in the Wirye New Town in Hanam, Gyeonggi Province, in February, has replaced the typical model house with a [...]

S. Korean Builders Striving to Meet Overseas Order Targets

S. Korean Builders Striving to Meet Overseas Order Targets

SEOUL, Jun. 26 (Korea Bizwire) — South Korean construction companies are striving to meet their annual overseas order targets amid concerns over a slowdown in the global economy, industry insiders said Wednesday, as they hope to feed off massive plant orders from the Middle East, their traditional cash cow, with oil prices staying high. Also, [...]